Facebook Director Breyer Sells $74 Million in Shares

By Brian Womack -
Feb 6, 2013

Facebook Inc. board member James Breyer sold $74.1 million worth of shares in the operator of the
world’s biggest social-networking website after the company’s
stock price recovered from lows last year.

Breyer sold 2.52 million shares this month, according to a
filing yesterday with the U.S. Securities and Exchange
Commission. Following the transaction, he still owned more than
19 million shares.

Some of Facebook’s management team sold as well, according
to filings. Chief Financial Officer David Ebersman sold more
than 173,000 shares, his first sale, leaving him with 2.23
million shares. Chief Operating Officer Sheryl Sandberg sold
more than 175,000 shares.

Menlo Park, California-based Facebook has risen more than
50 percent from a record low in September as investors have
gained more confidence about the company’s growth prospects.
Still, the shares are down 25 percent since the company went
public in May.

While the sellers benefited from a rising stock price, the
sales were part of a trading plan adopted last year.